Hershey Q2: EPS Beat, Dividend Boost, Solid Consumer Demand & More
Portfolio Pulse from Shivani Kumaresan
Hershey Co (NYSE:HSY) reported Q2 FY23 sales growth of 5% YoY to $2.49 billion, slightly missing the consensus of $2.50 billion. The company's North America Confectionery segment net sales rose 4.4% YoY, and International segment sales increased 8.5%. Gross margin expanded to 45.5%, and gross profit rose 13.2% YoY. Adjusted EPS of $2.01 beat the analyst consensus of $1.91. The company also announced a 15% increase in quarterly dividends. Hershey raised its FY23 adjusted EPS growth outlook and expects net sales growth of 8%.
July 27, 2023 | 1:51 pm
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Hershey's Q2 FY23 results show solid growth, with a slight miss on sales but a beat on EPS. The company also increased its dividends and raised its FY23 outlook, indicating confidence in future performance.
Hershey's Q2 results show strong performance with sales growth and EPS beat, indicating good operational efficiency. The increase in dividends shows the company's confidence in its financial stability and commitment to returning value to shareholders. The raised FY23 outlook suggests that the company expects this positive trend to continue, which could potentially attract more investors and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100